Correlation Between Loomis Sayles and Columbia Marsico
Can any of the company-specific risk be diversified away by investing in both Loomis Sayles and Columbia Marsico at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Loomis Sayles and Columbia Marsico into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Loomis Sayles Inflation and Columbia Marsico Growth, you can compare the effects of market volatilities on Loomis Sayles and Columbia Marsico and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Loomis Sayles with a short position of Columbia Marsico. Check out your portfolio center. Please also check ongoing floating volatility patterns of Loomis Sayles and Columbia Marsico.
Diversification Opportunities for Loomis Sayles and Columbia Marsico
0.08 | Correlation Coefficient |
Significant diversification
The 3 months correlation between Loomis and Columbia is 0.08. Overlapping area represents the amount of risk that can be diversified away by holding Loomis Sayles Inflation and Columbia Marsico Growth in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Columbia Marsico Growth and Loomis Sayles is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Loomis Sayles Inflation are associated (or correlated) with Columbia Marsico. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Columbia Marsico Growth has no effect on the direction of Loomis Sayles i.e., Loomis Sayles and Columbia Marsico go up and down completely randomly.
Pair Corralation between Loomis Sayles and Columbia Marsico
Assuming the 90 days horizon Loomis Sayles Inflation is expected to generate 0.83 times more return on investment than Columbia Marsico. However, Loomis Sayles Inflation is 1.21 times less risky than Columbia Marsico. It trades about 0.08 of its potential returns per unit of risk. Columbia Marsico Growth is currently generating about 0.03 per unit of risk. If you would invest 908.00 in Loomis Sayles Inflation on September 14, 2024 and sell it today you would earn a total of 59.00 from holding Loomis Sayles Inflation or generate 6.5% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Insignificant |
| Accuracy | 100.0% |
| Values | Daily Returns |
Loomis Sayles Inflation vs. Columbia Marsico Growth
Performance |
| Timeline |
| Loomis Sayles Inflation |
| Columbia Marsico Growth |
Loomis Sayles and Columbia Marsico Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Loomis Sayles and Columbia Marsico
The main advantage of trading using opposite Loomis Sayles and Columbia Marsico positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Loomis Sayles position performs unexpectedly, Columbia Marsico can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Columbia Marsico will offset losses from the drop in Columbia Marsico's long position.| Loomis Sayles vs. Loomis Sayles Inflation | Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. Loomis Sayles Bond | Loomis Sayles vs. Loomis Sayles Bond |
| Columbia Marsico vs. Lord Abbett Inflation | Columbia Marsico vs. Fidelity Sai Inflationfocused | Columbia Marsico vs. Loomis Sayles Inflation | Columbia Marsico vs. Ab Bond Inflation |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Top Crypto Exchanges module to search and analyze digital assets across top global cryptocurrency exchanges.
Other Complementary Tools
| Transaction History View history of all your transactions and understand their impact on performance | |
| Portfolio Holdings Check your current holdings and cash postion to detemine if your portfolio needs rebalancing | |
| Fundamentals Comparison Compare fundamentals across multiple equities to find investing opportunities | |
| Equity Analysis Research over 250,000 global equities including funds, stocks and ETFs to find investment opportunities | |
| Share Portfolio Track or share privately all of your investments from the convenience of any device |